Which of the following items must you provide when applying for a loan in order to prove you have collateral to back your loan?

Question

Quizplus · Accepted Answer

When applying for a loan, you would need to provide a personal balance sheet which shows your assets and liabilities. This will prove to the lender that you have collateral to back the loan. A personal cash flow statement would show your income and expenses, but not necessarily your assets, so it is not as relevant in this case. A paycheck stub or credit card statements would not provide adequate information to prove collateral for a loan.

Which of the Following Items Must You Provide When Applying